By Commodity News Service Canada
Winnipeg, March 18 – The Canadian dollar held steady Tuesday morning as investors waited to hear a speech from bank of Canada Governor Stephen Poloz.
A new Canadian manufacturing report showed Canadian sales rose by
1.5% in January, the fastest pace of growth in 11 months. The new
numbers from Statistics Canada cited increased demand for iron, steel
and food products as the primary reasons for the climb.
RBC Capital Markets said the new data suggests Canada’s economy
rebounded by approximately 0.3% in January.
The Canadian dollar will likely remain in a consolidative position
going forward, said an analyst.
At 8:50 CDT Tuesday, the Canadian dollar was at US$0.9048 or
US$=C$1.1052 which compares with Monday’s North American close of US
$0.9047, or US$=C$1.1053.
The TSX was down 2.30 points Tuesday morning at 8:50 CDT, to sit
at 14,229.59.
